The judgment of the first instance shall be modified as follows:

The preceding State District Court C, D (Dual) auction of real estate.

Basic Facts

A. On June 27, 2008, the Plaintiff is a third-class mortgagee who completed the registration of creation of a neighboring mortgage of KRW 168,00,000 for each real estate listed in the separate sheet among the real estate listed in the separate sheet (hereinafter “each real estate of this case”).

B. Each real estate of this case was set up the second priority collateral security (hereinafter “second priority collateral security”) under the name of Jeonju District Court Kim Jong-dong Office (hereinafter “Sstekex”) with the maximum debt amount of KRW 87,500,000,000 under the name of Zkkkknex Co., Ltd. (hereinafter “Skkkknex”).

C. On October 14, 201, Dakx applied for the commencement of a voluntary auction of real estate (N in the Jeonju District Court N) with respect to each of the instant real estate. D. The decision to commence the auction of real estate was rendered on October 14, 201.

On November 2, 2011, a limited liability company specializing in the takeover of the National Agricultural Cooperative Federation, has received a decision to commence the auction of real estate on November 3, 201, upon filing an application for commencing an auction of real estate on each of the instant real estate (former District Court C and D (Dupl)).

(hereinafter “Discretionary Auction Procedure”). E.

In concluding a lease agreement with E on each of the instant real estate, the Defendant agreed to pay the lease deposit to E by subrogation for the obligation to E ZTEX and substitute it as a part of the lease deposit, and concluded a lease agreement as follows on November 14, 201, during the process of voluntary auction:

(hereinafter “instant lease agreement”). From December 1, 2011, 201, the lease deposit amounting to KRW 3,300,000 for monthly rent of KRW 65,000.

F. On November 24, 2011, the Defendant subrogated for KRW 50,809,491 to E’s debt owed to E ZTex, and on the same day, paid KRW 1,931,200 to ESTex for filing a request for auction.

G. On November 30, 201, chix applied for the commencement of voluntary auction on each of the instant real property, and the Defendant on December 5, 2011.